Fitch: Default Rate Rises to 1.3% in July

Colter, Allison Bisbey
August 2011
High Yield Report;8/15/2011, p19
The article discusses the filing of bankruptcy by OPTI Canada that pushed up the trailing 12-month U.S. high yield default rate of Fitch Ratings to 1.3 percent in July 2011 from 1.1 percent in June 2011. According to Fitch, the July 2011 bankruptcy filing of OPTI Canada became the first default to surpass the billion-dollar mark in eight months, affecting 2.6 billion U.S. dollars in bonds. It brought the year-to-date default tally in July 2011 to 4.7 billion U.S. dollars.


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